ZLBT Chats

Thursday, October 11, 2012

Wall Street : Stocks Pounded as Wall Street's Outlook Darkens 11 Oct 2012

Dow Fades 128 Points as Sellers Take Hold of Wall Street
Make it three losses in a row for the Dow Jones Industrial Average (DJI), which was off more than 145 points at its session low, and suffered a second straight triple-point pullback. 
The Dow Jones Industrial Average (DJI – 13,344.97) buckled to its intraday bottom of 13,327.62 in the last minutes of trading today, and turned in slightly better results by the time the dust settled. On the day, the blue-chip barometer plummeted 128.6 points, or roughly 1%. All but five of the Dow's 30 components suffered losses, as Alcoa Inc.'s (NYSE:AA) earnings-related decline of 4.6% led the underperforming issues. Conversely, Wal-Mart Stores, Inc. (NYSE:WMT) topped the winning minority with a 1.7% rise. Bank of America Corp (NYSE:BAC) stayed at breakeven.

The S&P 500 Index (SPX – 1,432.56) and Nasdaq Composite (COMP – 3,051.78)prolonged their recent downtrends as well. The SPX retreated 8.9 points, or 0.6%, to end at its lowest level in a month. The COMP, meanwhile, burned off 13.2 points, or 0.4%, dipping below its 60-day trendline for the first time since July 25.

No comments:

Post a Comment